ABA Applauds Today’s Senate Banking Committee Confirmation Votes

By Rob Nichols, ABA president and CEO

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​ “We applaud the Senate Banking Committee for voting to send the nominations of Randy Quarles and Joseph Otting to the Senate for confirmation. Both nominees have the qualifications, knowledge and experience needed to carry out their important responsibilities at the Federal Reserve and OCC, and today’s committee vote reflects that.

“We urge the full Senate to confirm Quarles and Otting as soon as possible, so they can contribute to their agencies’ ongoing – and critically important – efforts to identify which financial regulations are working and address which rules need to be recalibrated to promote responsible economic growth.”

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The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend more than $9 trillion in loans.